Farmers Edge and Munich Re announced a strategic partnership to implement weather insurance solutions. The collaboration is a data-driven, centered on digital infrastructure that combines “highly precise, site-specific datasets with science-based analytics and Artificial Intelligence to transform traditional parametric coverage models into scalable and profitable solutions for all stakeholders.”
“The collaboration with Farmers Edge brings an important piece to the table. The performant accessibility to accurate data allows the design of individual coverages on a parametric basis addressing the specific risks and helping commercial operations to manage their exposures,” shared Rainer Hartmann, Head of AgRisk Partners in Munich Re.
Caribu, Mexico-based insurance aggregator partners, with The Floow for the launch of MyCaribu, a platform designed to help younger drivers build safe-driving habits. The telematics-based comparative rating engine records the trips of its app users and scores them against a number of key factors including cell phone use, speed, time of day, fatigue and smoothness of driving. The app provides drivers feedback on ways to improve and how to become a better driver. “Our challenge is to have happy, satisfied and safe users, in addition to being able to counteract the nearly one thousand vehicle accidents that occur daily in Mexico,” says Rafael Rebollar, General Manager of MyCaribu.
Policygeniusannounced the launch on its digital distribution platform of Lincoln TermAccel along with Lincoln Financial Group. The product offers life insurance protection for 10-, 15-, 20- or 30-year terms with coverage amounts from $100,000 to $1 million. "We've always been focused on helping people get financial protection right, and making the insurance purchasing process as easy and convenient as possible," says Jennifer Fitzgerald, CEO and co-founder of Policygenius.
Betterment, online money manager, announces a partnership with Sure, insurance technology company, to provide cell phone insurance to customers. Betterment Checking users are now offered coverage for phone damage or theft if they pay their monthly bill with Betterment Visa Debit Card. Mike Reust, President of Retail at Betterment shared, "With Betterment Checking, our goal is to provide a product that helps customers make the most of their money, so they can live better.” Reust continued to say "When it comes to debit and credit cards, consumers have come to expect banks to offer perks, including insurance, at no additional cost. As we look to meet and exceed the expectations of our customers, we're excited to partner with Sure to offer cell phone insurance, to help mitigate the impact of a potentially large unexpected expense.” Users can file claims by showing their paid phone bill on Betterment Visa. Theys can also file their claims, view their status, and get reimbursed all supported by the Sure platform.
Jetty, a fintech company combining insurance and other finance options to help renters, has launched Unlock Deposit to offer renters to free up cash deposits in exchange for a small, one-time or monthly fee. Partner properties offering Unlock Deposit can 'unlock' their original cash deposit in exchange for a small, one-time or monthly fee, while remaining responsible for all rent and damages. "Unlock Deposit can help further address this liquidity crunch, while simultaneously enabling Jetty Partners to increase retention and reduce the potential of bad debt,” says Mike Rudoy, CEO and Co-Founder of Jetty. Renters at Jetty.